DICT responds to the need for an abrupt shift for digitalization


DICT responds to the need for an abrupt shift for Digitalization pushed by the global health crisis brought by the COVID-19 Pandemic. The majority of businesses are currently leveraging the use of online platforms to continue their market. As part of the new normal adaptation, online platforms are an excellent measure to sustain their market demand.

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BSP to standardize MSMEs loan application process

The Bangko Sentral ng Pilipinas (BSP) is working with banks on the standardization of the Micro, Small and Medium Enterprises (MSME) loan application process. BSP is also developing the concept note and draft standard loan application form. This initiative aims to streamline/ lessen the requirements of financial institutions and provide more access to MSMEs. 

In a press release by the BSP, it has allowed loans to large enterprises and MSMEs to be considered banks’ alternative reserve compliance until end-2022 to help companies affected by the pandemic. Consequently, loans that are guaranteed by the Philippine Guarantee Corporation, the Agricultural Guarantee Fund Pool (AGFP), and the Agricultural Credit Policy Council (ACPC) were assigned a zero percent credit risk weight. This move is meant to encourage banks to lend to small farmers and fisherfolk.

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Government supports exporters on COVID-19 challenges faced

The export industry remains resilient and optimistic to face the global health and economic crisis brought by the covid19 pandemic.  
 
They are now producing in-demand products such as face masks, personal protective equipment (PPE), face shields, and other relevant medical supply needed in this time of pandemic. They have also opened the window to market their products through online platforms. Indeed, these products are potential to the export sector – to cater the world demand in the global market.

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PEDP 2018-2022 Virtual Regional Consultations in Luzon, Visayas and Mindanao

The Export Development Council (EDC), in collaboration with the Department of Trade and Industry- Export Marketing Bureau (DTI-EMB) and Philippine Exporters Confederation, Inc. will conduct a series of virtual regional consultations via zoom in Luzon, Visayas and Mindanao comprising the top 10 exporting regions. 

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DOTr initiatives show strong support to the PEDP

In support to Strategy 1 of the Philippine Export Development Plan (PEDP) 2018-2022 which is to improve the overall climate for export development, the Department of Transportation (DOTr) contributed through its submission of the Agency’s Policies, Action Plans and Programs (PAPs) to raise the productivity and competitiveness of Philippine Enterprises.

The DOTr PAPs focus on the development of infrastructures such as Railways, Maritime, Aviation, Road transport, and Toll roads. DOTr reported that from 2016 to 2019, it has reached a total of 119 completed airport projects; of which 70 projects are directly under the DOTr. Some completed projects include Marinduque, Sangley and Camiguin Airport.

Moreover, DOTr also reported numerous railway infrastructure projects namely the North-South Commuter Railway System, Metro Manila Subway, MRT3 Rehabilitation, Mindanao Railway, PNR South Long Haul (Manila-Batangas-Sorsogon), LRT-1 Cavite Extension and Subic-Clark Railway. It is noted that some of the said projects are now ongoing rehabilitation specifically that of the MRT-3 which includes the overhaul of the rail line’s 72 light rail vehicles, replacement of mainline tracks, rehabilitation of power and overhead catenary systems, and other improvements.

All these initiatives are geared to make the movement of goods and people not only easier and faster but more so, cost-effective and efficient.

For other programs and further details, visit the DOTr website at http://dotr.gov.ph/- PKC

Government agencies provide continuous support for export development

Government agencies cited under Memorandum Circular (MC) No. 27 provide continuous support for export development to achieve the export target of $122B-$130B by year 2022 through the implementation of their Programs, Action Plans and Policies (PAPs).

The Departments of Trade & Industry, Foreign Affairs, Agriculture, Energy, Environment and Natural Resources, Health, Finance, Information and Communication Technology, Interior and Local Government, Public works and Highways, Transportation, Tourism, Labor and Employment, Science and Technology, TESDA, CHED, BSP and NEDA are mandated to strengthen the implementation of the Philippine Export Development Plan (PEDP) through MC No. 27.

The foregoing agencies are enjoined to submit to the Export Development Council (EDC) their PAPs aligned to the PEDP strategies in compliance to MC No. 62 “Approving the PEDP 2018-2022 and directing concerned agencies to ensure its implementation” as approved by the President on 26 June 2019.

In the recently convened PEDP Consultation Meeting with the 18 agencies, it was noted that accomplishments and initiatives from the said stakeholders will be reported to the exporting community and submitted to the President during the National Export Congress slated on 06 December 2019 at the Philippine International Convention Center. Said report is in compliance to the implementation of the PEDP 2018-2022.